The surprise resignation of New Zealand’s central bank governor leaves many unanswered questions for an institution that prides itself on transparency, not least the reason for his departure.
The Reserve Bank of New Zealand was unable to explain why Adrian Orr abruptly quit on Wednesday in Wellington with three years still to run in his second five-year term. Board chair Neil Quigley said it was for personal reasons and alluded to criticism of Orr during his seven-year tenure, but wouldn’t be drawn on any details.
